Wallingford Market Update for July 2011
Here’s the way the housing market is shaping up in Wallingford as of July 31, 2011:
There are currently 234 single family homes for sale in Wallingford:
- Low list price: $39,000
- High list price: $895,000
- Average list price: $315,551
- Median list price: $289,900
- Average Days on Market: 75
- Homes sold on average for 94.6% of list price
There are 63 homes currently under contract, priced between $89,900 and $724,900. Based on the number of homes sold in July (29), it would take approximately 8 months to sell the current inventory.
As for condominiums, there are currently 68 condos for sale:
- Low list price: $75,900
- High list price: $565,900
- Average list price: $231,450
- Median list price: $215,950
- Average Days on Market: 129
- Condos sold on average for 96.2% of list price
There are currently 28 condos under contract, priced between $76,000 and $489,900. Based on the number of condos sold in July (21), it would take 3 months to sell the current inventory.
Here is a chart showing annual home and condo sales in Wallingford so far in 2011:
Single family home sales rebounded nicely in July, up 32% from the prior month, and condo sales also showed continued improvement by rising a healthy 50% from June. The average selling price in both categories was mixed; condos were up 3.3% at $222,585, while single families dropped to their lowest level of the year at $298,606. Compared to July of 2010, condos were up a whopping 30%, while single families had a more modest gain of just over one half a percent. Sales of both categories also showed healthy gains from one year ago. Condos in Wallingford were not affected as much by the loss of FHA approval as their Meriden counterparts, but there are still 38% of the complexes in town that need to get that approval reinstated in order for condo sales to continue to flourish.
The following chart shows average days on market, or how many days it took to sell a home or condo, for year-to-date 2011:
Average days on market were mixed in June, with single family properties posting a 16% drop to 75 days, while condos more than doubled to 111 days as some foreclosure properties entered the mix. Inventory levels were also mixed: single family properties reached their highest level of 2011 at 234 units, while condos dropped to their lowest level of the year at 75 units.
Wallingford Properties For Sale
(zoom out to see more properties)